How could a popular artist get into such debt? Well, remember that he is married to Kim Kardashian.

An amazing new era in the world of finance starts today. The greatest artist in human history, Kanye West, has just revealed that he is officially backing a cryptocurrency. So move over US dollar, there is a new king of currencies and its name is Coinye.

As you may remember, Coinye was a project that Kanye got effectively killed by launching a trademark infringement lawsuit against its developers back in 2014. Now he is relaunching the cryptocurrency as a merge between Bitcoin and Ethereum, based on a ‘Proof-of-Awesomeness’ and backed by Kanye’s singles.

Speaking with Finance Magnates about the vision, the artist said: “Just imagine a smart contract that automatically orders you baby diapers nine months after you listened to one of my love songs. This is revolutionary thinking right here, and it’s all backed by my music, which is far more valuable than gold!”

The apparent reason for the move is that Kanye is in debt to the tune of $53 million, as he recently revealed publicly. Kanye offered an opportunity to Mark Zuckerberg to invest in his brilliant ideas and cover his expanses but as he reached out using twitter and not Facebook the pimpled billionaire declined. However, by pre-mining the new Coinye, all his material wants will be fulfilled.